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HONG KONG - Nasdaq-listed Web 3.0 infrastructure provider Nano Labs Ltd (NASDAQ:NA), currently trading at $7.48 and showing a remarkable 102% return over the past year according to InvestingPro data, has increased its holdings of BNB cryptocurrency to 120,000 tokens, valued at approximately $90 million, the company announced Tuesday.
The company recently acquired an additional 45,684.99 BNB through over-the-counter transactions at an average price of $764 per token. With these purchases, Nano Labs’ total BNB holdings now represent an average acquisition cost of $707 per token. The company’s market capitalization stands at $131.79 million, with revenue declining 48% in the last twelve months.
According to the announcement, this expansion marks progress in what the company describes as a "full-scale upgrade" of its BNB strategic reserve plan. Nano Labs indicated it plans to further strengthen its BNB position through continued accumulation, acquiring stakes in BNB-focused reserve entities, and investing in companies that hold BNB as a core reserve asset.
Nano Labs, which describes itself as a provider of high throughput computing and high performance computing chips in China, has adopted BNB as its primary reserve asset alongside other cryptocurrencies including Bitcoin.
The company’s stock is listed on the Nasdaq under the ticker symbol "NA."
This information is based on a press release statement issued by Nano Labs.
In other recent news, Nano Labs Ltd has been actively involved in several significant developments. The company announced it would raise approximately $50 million through a share offering, with the proceeds intended for acquiring Binance Coin (BNB) as part of its digital asset strategy. Additionally, Nano Labs has entered into a $500 million convertible notes private placement, planning to use the funds to further increase its holdings in BNB. The company aims to eventually hold between 5% and 10% of BNB’s total circulating supply. In another strategic move, Nano Labs acquired $50 million in Binance Coin through over-the-counter transactions, enhancing its reserves of digital currencies. The company also announced a partnership with Orbiter Finance to develop a compliant stablecoin service, expected to launch in Q4 2025. Furthermore, Nano Labs appointed Dr. Kailong Cai as CEO of its subsidiary, Nano bit HK Limited, to lead its strategic transformation into a cryptocurrency reserve enterprise. These recent developments underscore Nano Labs’ commitment to expanding its presence in the cryptocurrency and blockchain sectors.
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